Saturday 29 April 2017

Reader’s Response: Signature 2017 shows sign of recovery

                                        Show attracts genuine buyers

Signature 2017 has brought new orders for the season. Genuine buyers have made it a point to visit the show. Sales at the 10th edition have been at par with last year. Our new collection did well at the show.

Mehul Solanki
Director, Solanki Jewellers

Friday 28 April 2017

Reader’s Response: Signature 2017 shows sign of recovery

                                                             Expectations met!

For us Signature has always been a good place to conduct business. This year too we have met our expectations from the show. Limited but serious buyers showed great interest in our new collection.

Vipul Mehta
Director, Laxmi Jewellery Pvt Ltd,

Reader’s Response: Signature 2017 shows sign of recovery

                                               Best talent displayed

We are proud to be a part of Signature. The show brings together the best talent in the industry under one roof. During the show, we have established new contacts and gained more business.

Parag J. Jhaveri
Director, Keshavlal Dalpatbhai Zaveri &
Co., Mumbai

#AOJQuote of the day 28th April 2017

:“There is 10 to 15 per cent growth in sales this Akshaya Tritiya, as compared to the last year. There is significant crowd in jewellery shops all over the country and both, big and small items of gold are in demand. However, the jewellery below Rs. 2 lakhs is doing much better. Even in regions like Akola, the turnout is good.” Nitin Khandelwal, Chairman, GJF INDIA

Akshaya Tritiya Trends - #AOJ exclusive

#AOJLiveUpdates : “This year, a lot of customers are buying antique jewellery, which is a different trend. Apart from that diamonds and silverware are also in demand. People have a budget as low as 10k to as high as 10 lakhs.We are expecting crowd in the evening as it’s a working day. We are open till 11.00 pm today.”Ashok Kumar Jain ,Navrathan Jewellers, Bangalore

#AOJQuote of the day 28th April 2017:

“We are expecting good sales as compared to last year. Also, looking forward to decent turnover. We are witnessing real confidence and trust on jewellery from customers. They are happy to buy jewellery on thisday.” Sreedhar Gurram,Managing Director, M/S Sree Rama Jewels,Immediate past Chairman of GJF INDIA

#AOJQuote of the day 28th April 2017

:“This year’s Akshaya Tritiya is fetching a huge number of customers - both investors and buyers. We are already recording thumping sales. We are doing 35 per cent more business compared to last year. Considering the current global political and national political and economic situation, we will be seeing a steady rise in gold prices. Gold rates may reach Rs. 35000/10g in the next 6 months.”Saurabh Gadgil,CMD,PNG Jewellers

#AOJLiveUpdates Lightweight jewellery and gold coins in high demand - Lightweight, plain and studded gold jewellery and gold coins have witnessed a brisk sale in the 1st half of the day. Antique and Polki designs were preferred by customers buying for wedding.

#AOJLiveUpdates Akshaya Tritiya Sales in South India picking up - It’s not only the branded and chain stores but the small and medium size jewellers are too getting good sales

#AOJLiveUpdates Jewellers witnessing good footfalls on Akshaya Tritiya Excitement soars as Akshaya Tritiya sales go higher every passing hour. Jewellers expecting more turnout tomorrow as it is weekend

Thursday 27 April 2017

#AOJDailyeNews Paytm partners with MMTC PAMP , launches digital gold at Rs.1

 Digital wallet player Paytm has launched Digital Gold Products . Users can buy 24K 999.9 gold for denominations as low as Rs. 1 which can be Stores , traded and home delivered in the form of gold coins . Paytm had partnered with MMTC PAMP.             

Strong Rupee, Pent up demand due to Demo, better consumer interest key drives to Akshaya Tritya sale this year.

 The 4 Percent drop in prices from last Akshaya Tritya , pent up demand , strengthening Rupee that has made precious metal imports cheaper and revived consumer interest are the key drivers if Akshaya Tritya sales this year .    Read More                    

#AOJFlashNews :

 India's Gems & Jewellery exports for the period April 2016- March 2017 rises almost 10% to USD 43.15 Billion . G& J exports accounts for 15.71% of the country's total exports in FY17 .

#AOJDailyeNews Fancy blue diamond fetching high prices: FCRF

 Blue diamonds outperformed the rest of the fancy-colour market in the first quarter, as high demand for the rare stones continued to drive prices, according to the Fancy Colour Research Foundation (FCRF).

Read More 

#AOJDailyeNews Gold shining bright one day ahead of Akshaya Tritiya

Gold prices were trading higher in early trade on 27th April amid skepticism over President Donald Trump’s proposed US tax reform, with markets awaiting central bank meetings in Europe and Japan. The yellow metal was trading 0.24 per cent, or Rs 70, up at Rs 28,789 per 10 gram around 10.45 am (IST), while the white metal silver was up 0.38 per cent, or Rs 152, at Rs 40,010 per 1 kg.

Read More 

#AOJQuote of the day 27th April 2017:

"Outlook for gold is good. A normal monsoon will boost farm revenues, increasing demand for gold. The only hitch in market is the impact of GST on bullion taxation. GST is expected to be rolled out in July, but there is no decision yet on rates to be imposed on bullion. Current taxation is around 12.2 %. Jewellers want taxation under the new regime to be at similar levels. "Aurobinda Prasad Gayan, VP-Research,Kotak Commodities

Wednesday 26 April 2017

#AOJDailyeNews Jewellery sales expected to soar this Mother’s Day

 Consumers are expected to spend more on jewellery than on any other product category this Mother’s Day, according to a survey by the National Retail Federation (NRF). Read More

#AOJDailyeNews GJF looking at 20 to 30% jump in jewellery sales this Akshaya Tritiya

 The All India Gems and Jewellery Trade Federation (GJF) expects robust sales this Akshaya Tritiya (April 28) across India. Consumer demand is expected to be strong due to the wedding season and traditional custom to buy gold on the occasion of Akshaya Tritiya. 

#AOJQuote of the day 27th April 2017:

“People have great faith on Akshaya Tritiya and we expect a growth to be robust 20-30% over last year due to demand considering wedding season. Also Jewellers will be looking forward for maximum jewellery sales for this day as it will be before GST." Nitin Khandelwal, Chairman, GJF INDIA

#AOJDailyeNews Kalyan Jewellers enters online business with Candere

 Kalyan Jewellers announced the acquisition of online jewellery firm Candere on 26th April .The acquisition will boost Kalyan Jewellers presence in the growing online jewellery segment in India. Kalyan Jewellers will acquire the equity held by Singularity Strategic Read More 

#AOJExclusiveNews NAC Jewellers inaugurates their 8th Showroom at Anna Nagar in Chennai

The famous NAC Jewellers inaugurated their 8th showroom in Chennai on 26th April. The grand opening comes two days before the auspicious gold buying festival of Akshaya Tritiya and the much awaited wedding season. Read More

#AOJQuote of the day 26th April 2017:

“We are glad to announce our new branding partnership with Divinus Creation in Kolkata. At Divinus Creations, one will find the finest design Jewellery collection in 925 Sterling Silver exclusively embellished with SWAROVSKI ZIRCONIA." - Rajendra Jain ,Managing Director - Swarovski Gemstones,India.


#AOJExclusiveNews DIVINUS CREATIONS , Kolkata announces their branding association with SWAROVSKI GEMSTONES

  DIVINUS Creations announced their exclusive branding association  with SWAROVSKI GEMSTONES at Taj Bengal, Kolkata in the presence of Mr. Rajendra Jain, Managing Director and Mr. Vivek Gurung, Sales Head, Swarovski Gemstones, India Read More 

#AOJDailyeNews Tribhovandas Bhimji Zaveri revamps its Vijayawada store

 Tribhovandas Bhimji Zaveri (TBZ- the Original),  revamped its Vijayawada store in a grand avatar, with 6200sqft space and two levels showcasing a new range of exquisite designs in wedding jewellery collection in jadau, diamond and gold. The showroom is located at MG Road. Read More 

#AOJDailyeNews Fin Min to propose GST rate on gold at 3%, not likely to cut import duty

  Fearing that the cut in gold import duty may make gold bond scheme less viable, some government sources told ET Now that the Finance Ministry is in favour of fixing GST rate on gold at 3% and it is not keen to cut the import duty on gold as of now. 

Read More 

#AOJQuote of the day 26th April 2017:

 This year’s Akshay Tritiya is poised to bring in a huge number of customers across the board. It has coincided with the peak of the wedding season, exam fever is over and school, college vacations have started too. All these factors are in extreme favour of a fantastic, record breaking Akshay Tritiya.  We are expecting a minimum 40% increase in sales from last year.- Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers -Director at Indian Bullion Jewellers Association (IBJA)

Tuesday 25 April 2017

#AOJDailyeNews Yellow and Pink diamonds price index rises high in Q1 2017

  The Fancy Colour Diamond Index for the first quarter of 2017 indicates pricing stability across most fancy colour diamond categories. The main exception was blue fancy colour diamonds Read  More 

#AOJDailyeNews HRD Antwerp opens new office near Bharat Diamond Bourse in Mumbai

 HRD Antwerp officially inaugurated its new lab & office premises in Mumbai on Tuesday the 25th of April, in the presence of His Excellency Secretary of State for Foreign Trade of Belgium Mr. Pieter De Crem. This expansion underscores HRD Antwerp's commitment to fundamentally strengthening the ties between the world's leading diamond trading centre – Antwerp – and the Bharat Diamond Bourse - the world's largest diamond bourse. Read More 

#AOJDailyeNews Rapaport Annual Breakfast to be held on 7th June at Las Vegas JCK Show

Rapaport is holding a daylong conference at the Las Vegas JCK show and the conference is divided into four sessions. The conference would begin at 10:00am with a presentation on the "State of the Diamond Industry" by Martin Rapaport. 

Read More 

#AOJQuote of the day 26th April 2017:

"On precious metals like Gold , Silver , Diamonds and Its ornaments there will be a special rate , which GST Council will decided shortly . It can be anything from 2% to 6% ." -Dr. Hasmuk Adhia , Revenue Secretary , Govt of India . Speaking at GST Conclave

Extended trading hours for gold ETFs & SGB on 28th April announces BSE

 Leading stock exchange BSE has extended trading hours for gold exchange traded funds (ETFs) and Sovereign Gold Bond till 1900 hrs on April 28, on account of Akshaya Tritiya. Occasions like Dhanteras, Diwali and Akshaya Tritiya are considered auspicious to buy valuables like gold in India. Trading in gold ETFs is usually higher on these days. Read More

#AOJQuote of the day 25th April 2017:

“Sales of gold jewellery are expected to double on the occasion of Akshaya Tritiya following a revival in economy which was briefly shaken by demonetization last year. A strong wedding season and a rising rupee will be among the triggers that will drive buyers to shop for more gold on Akshaya Tritiya which falls on Friday (28th April 2017 ). “Manisha Gupta - Editor - Commodities & Currencies, CNBC-TV18

#AOJDailyeNews Diamond miners eye Indian market with 'Real is Rare' slogan

 The world's top diamond producers will try to spur demand in India with the launch of their "Real is Rare" slogan in September, after the withdrawal of high-value bank notes dented the world's third biggest diamond market.Read More

#AOJQuote of the day 25th April 2017:

“In jewellery we are meeting around 10% of global demand. We want to achieve 60-70% share. Hong Kong is famous for studded jewellery, Italy is famous for plain gold jewellery. We have the capability to manufacturing and supply both these types. Easily we can increase out share to 30% within 5 years.” Sanjay Kothari, CEO, Diatrends Jewellery and past chairman of Gjepc India.

#AOJDailyeNews De Beers records increase in sales during market comeback

Beers’ rough-diamond sales and production grew in the first quarter, signalling upbeat sentiment in the manufacturing sector. Read More 

Monday 24 April 2017

#AOJDailyeNews Exceptional Green Diamond to hog the spotlight at Bonhams Auction

A fancy-colour green diamond ring will lead Bonhams’ “Rare Jewels and Jadeite” sale in Hong Kong in May, with the auction house expecting the piece to fetch $400,000 to $490,000Read More

#AOJDailyeNews Christie’s armed with a breath-taking opening at Geneva auction in May

 A 92.15-carat diamond pendant worth $20 million will lead Christie’s “Magnificent Jewels” auction in Geneva in May.  Read More 

#AOJDailyeNews Small jewellers may lose out because of low GST rate?

There's a bit of a paradox in lobbying by various trade and industry bodies of bullion dealers and jewellers for fixing the GST rate not higher than what they pay on 24th April.   Read More aims for Rs 1000-crore earnings in the next FY

Ratan Tata backed online jewellery firm is targeting a revenue of Rs 1000 crore in FY19 and expecting to achieve profitability around the same time. The company has clocked a turnover of Rs. 250 crore in FY17.

Read More 

#AOJQuote of the day 24th April 2017:

 “The skill development process has begun. The next phase is infrastructure development. We need to set up common manufacturing facility as every jeweller does not have money. Besides, we need to increase our ability to understand foreign fashion trends.” Krishnamoorthy Srinivasan,MD,Emerald Jewel Industry India Ltd. & Convener, Gold Panel,Gjepc India

#AOJExclusiveNews NAC to open its 8th Showroom on 26th April , 6th in Chennai

 It seems like it’s raining gold and jewellery showrooms in Chennai this Akshaya Tritiya. Further expanding its presence. Read More 

#AOJQuote of the day 24th April 2017:

“The trend of discount in jewellery during wedding and festival seasons started in 2016 as jewellers wanted to recover a part of business lost during the 42-day strike in protest of excise levy. Jewellers are continuing with last year’s trend with an increase in discount percentage to boost sales this wedding season.” Vijay Jain , Managing Director, ORRA Diamond Jewellery.

#AOJDailyeNews Kailash Satyarthi awarded 2017 P.C. Chandra Puraskaar

 The P C Chandra Puraskaar 2017 awarded by famous PC Chandra Jewellers was given this year to Nobel Laureate Kailash Satyarthi on 23RD April. Read More 

Sunday 23 April 2017

#AOJExclusiveInterview 22/4/2017:Recently released guidelines on BIS hallmarking don’t seem to be favouring the retail jewellers. While there are amendments that may look good on paper, those may not be practical and might penalise jewellers. Sanjeev Agarwal, Chairman Gems & Jewellery Committee FICCI, throws more light on to the subject and clarifies what needs to be done.

#AOJDailyeNews Prince Jewellers continue to expand in Chennai

 Tamil Nadu’s famous jewellers Prince Jewellery launched its seventh exclusive showroom at Tambaram, in South Chennai on 21st April. Read More 

#AOJDailyeNews Women felicitated in eastern India’s biggest jewellery; ‘Sonar Sansar’

 Singer Arati Mukherjee, director -actor Churni Ganguly, theatre activist Usha Ganguly, archer Dola Banerjee, have been crowned as 'Woman of Substance' in their respective fields at the biggest jewellery show in eastern India. Read More 

#AOJDailyeNews IBJA wrote to PMO requesting relaxation of value addition norms for export of gold items

 India’s bullion trade is requesting the government to permit export of gold bars made locally as the first step towards establishment of a good delivery Indian gold bar standard analogous with global benchmark London Bullion Market Association good delivery bar. Two trade associations have suggested different ways to go about export. Read More 

#AOJFlashNews Russia adds 25 tons of gold to official reserves in March

Saturday 22 April 2017

Reader’s Response: Signature 2017 shows sign of recovery

                                                         Superb show!

The show has been superb for us. Buyers, who we would have liked to tap, visited us. Apart from our latest jewellery collection, this year we have crafted a replica of the 'Gateway of India'. Made with fine quality of gold it has received rave reviews.

Raphy Antony
Director, Peeyar Manufacturers

Reader’s Response: Impact of budget 2017 on the jewellery industry

                                                       Encouraging budget!
It is a very encouraging budget with no restrictions for the jewellery industry. This will allow the industry to do business with ease.

Kishoor Kumar
MD, Swarnmandir Jewels Designer
Pvt Ltd, Tumkur

Reader’s Response: Impact of budget 2017 on the jewellery industry

                                                            Good for GJ industry

It is an excellent budget and congratulations to our Finance Minister Arun Jaitleyji for giving a boost to the rural sector. For jewellery sector there are no drastic changes to the existing rules and  regulations, which is a positive move.

Vijay Khanna
MD, Khanna Jewellers, New Delhi
"It is quite natural that Kerala FM will opt for more revenue, justyfing more tax on Gold . Kerala being a state were  Tax revenue had declined from other sectors like Liquor & Hotels in the present circumstances . But since GST law Center Govt has assured the revenue loss will be compensated to state Govt, Kerala Govt should help in smooth implementation with lower GST rates . " Adv Abdul Nazar ,Coordinator KJACC

Friday 21 April 2017

#AOJQuote of the day 21st April 2017:

" The secret of scaling up the jewellery retail business and taking it to next level is all about hiring right people and having process driven by technology. " Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers Pune .